Drilling Update
Ophir provides an update on recent drilling activity in Indonesia and Thailand.
Ophir has a 100% operated interest in the Bualuang oil field in the Gulf of Thailand.
Phase 4 of the development of the Bualuang field was confirmed in 2017. This has seen 9.9 MMbo of contingent resource converted into 2P reserves. The phase 4 development will commence in 2H 2018.
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The Bualuang oil field in the Gulf of Thailand has been on-stream since 2008. The field was initially thought to contain 15 mmbo of 2P reserves and have a productive life of approximately five years. However, the field has undergone numerous reserve upgrades and year end 2017 it had produced over 30 million barrels of oil, with a further 28 mmbo of 2P reserves and 10.3 mmbo of 2C resource.